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The price of a home is 270 000 The bank requires a 5 down payment at the time of closing The mortgage on the house

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The price of a home is 270 000 The bank requires a 5 down payment at the time of closing The mortgage on the house is a 30 year fixed rate mortgage at 7 Use this information to find the amount of the monthly payment Round your answer to the nearest cent Use the formula below to solve the problem P Payment 1 1 707 O2 1 796 3 1 695

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